Tamilnad Mercantile Bank Revises MCLR Rates Upwards

Tamilnad Mercantile Bank Limited has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR) effective from November 7, 2026. The bank has increased its MCLR across all tenors. For instance, the Overnight and One Month MCLR have been revised from 7.70% to 7.75%. The One Year MCLR has seen an increase from 9.35% to 9.45%. This upward revision in lending rates is a common practice for banks to align with changing interest rate environments and manage their net interest margins.